Population growth masked the San Joaquin Valley’s structural economic problems until 2008. Now that a housing-based economy is revealed as unsustainable, what economic engines should the Valley build to achieve prosperity?
Jerry Nickelsburg, an adjunct economics professor at UCLA, answers with a strong essay.
“Appalachia addressed its depression by looking inward—blaming coal policy, big government, environmentalists, and whomever else for slow growth and a lack of good jobs. Your counties can adopt the same strategy and go down into the same hole by blaming Sacramento for taxation, land-use policy, and environmental and business regulation. If you do that, you can expect a similar outcome. Or, you can look outward to link yourselves to the world economy and create new wealth and new economic engines.”
Definitely worth a read.